Isthmus Partners LLC Buys 986 Shares of Commercial Metals (NYSE:CMC)

Isthmus Partners LLC raised its stake in shares of Commercial Metals (NYSE:CMC) by 16.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,822 shares of the basic materials company’s stock after purchasing an additional 986 shares during the period. Isthmus Partners LLC’s holdings in Commercial Metals were worth $375,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Victory Capital Management Inc. boosted its holdings in shares of Commercial Metals by 1.9% during the 3rd quarter. Victory Capital Management Inc. now owns 2,176,959 shares of the basic materials company’s stock valued at $119,646,000 after purchasing an additional 41,206 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Commercial Metals by 1.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,714,116 shares of the basic materials company’s stock valued at $94,208,000 after acquiring an additional 17,931 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Commercial Metals by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,462,317 shares of the basic materials company’s stock valued at $80,369,000 after acquiring an additional 18,262 shares during the last quarter. Thompson Siegel & Walmsley LLC lifted its holdings in shares of Commercial Metals by 58.0% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 1,440,531 shares of the basic materials company’s stock valued at $79,172,000 after acquiring an additional 528,876 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Commercial Metals by 1.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,296,284 shares of the basic materials company’s stock valued at $71,283,000 after acquiring an additional 18,205 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on CMC. Wolfe Research downgraded shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. BMO Capital Markets set a $62.00 price objective on shares of Commercial Metals and gave the stock a “market perform” rating in a research note on Friday, October 18th. Finally, Jefferies Financial Group assumed coverage on shares of Commercial Metals in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $65.00 price objective for the company. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Commercial Metals currently has a consensus rating of “Moderate Buy” and an average target price of $65.25.

Commercial Metals Stock Performance

Shares of NYSE:CMC opened at $61.78 on Friday. The firm has a market cap of $7.04 billion, a PE ratio of 14.92, a price-to-earnings-growth ratio of 2.73 and a beta of 1.14. The firm’s 50 day simple moving average is $56.28 and its 200-day simple moving average is $54.87. Commercial Metals has a one year low of $44.78 and a one year high of $63.40. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.78 and a current ratio of 3.94.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings data on Thursday, October 17th. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.01). The business had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Commercial Metals had a net margin of 6.13% and a return on equity of 12.20%. As a group, equities analysts predict that Commercial Metals will post 4.26 EPS for the current year.

Commercial Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend was Thursday, October 31st. Commercial Metals’s payout ratio is 17.39%.

Commercial Metals Profile

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. It operates through two segments, North America and Europe. The company processes and sells ferrous and nonferrous scrap metals to steel mills and foundries, aluminum sheet and ingot manufacturers, brass and bronze ingot makers, copper refineries and mills, secondary lead smelters, specialty steel mills, high temperature alloy manufacturers, and other consumers.